Some 29.7 GW worth of PV project capacity will compete in the procurement on October 18. Selected solar projects will have to begin delivering power in 2025 and will be awarded a 20-year power purchase agreement.
The Baltic nation is heavily dependent on energy imports. A plan for energy independence by 2050 foresees the large scale deployment of renewable energy resources.
The GCL System chief executive made comments that fly in the face of an expected solar gold rush in China that analysts predict will start this month. Though rising overseas demand will address overcapacity fears, according to Luo, the soundbite is sure to chill PV boardrooms across the world’s biggest solar market.
The debt-saddled developer has announced it is now almost 63% owned by Chinese state entities and is seeking to refinance its debt pile with new long-term arrangements, take on fresh debt and issue more shares.
The polysilicon maker has turned a quick $160 million profit from the sale of its stake in a fund it paid $189 million to establish just five months ago. The heavily indebted manufacturer needs to raise funds to pay for its production capacity expenditure.
The Japanese multinational lender is making its second investment in the Swedish start-up. The funds will help the company ship its first products next year.
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